Coherent, Inc. (NASDAQ:COHR) Receives $203.40 Average PT from Analysts

Shares of Coherent, Inc. (NASDAQ:COHR) have received a consensus recommendation of “Hold” from the twelve analysts that are presently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $203.40.

Several research firms recently weighed in on COHR. Zacks Investment Research raised shares of Coherent from a “hold” rating to a “strong-buy” rating and set a $300.00 price objective for the company in a report on Wednesday, February 17th. Benchmark downgraded shares of Coherent from a “buy” rating to a “hold” rating in a report on Thursday, February 11th. Berenberg Bank downgraded shares of Coherent from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a report on Thursday, January 21st. Barclays raised shares of Coherent from an “underweight” rating to an “equal weight” rating in a report on Wednesday, January 20th. Finally, TheStreet raised shares of Coherent from a “d+” rating to a “c-” rating in a report on Friday, January 29th.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. AE Wealth Management LLC lifted its stake in Coherent by 0.9% during the fourth quarter. AE Wealth Management LLC now owns 9,432 shares of the scientific and technical instruments company’s stock valued at $1,415,000 after buying an additional 84 shares in the last quarter. M&T Bank Corp lifted its stake in Coherent by 3.6% during the fourth quarter. M&T Bank Corp now owns 4,002 shares of the scientific and technical instruments company’s stock valued at $600,000 after buying an additional 140 shares in the last quarter. LPL Financial LLC lifted its stake in Coherent by 5.6% during the fourth quarter. LPL Financial LLC now owns 3,231 shares of the scientific and technical instruments company’s stock valued at $485,000 after buying an additional 172 shares in the last quarter. Retirement Systems of Alabama lifted its stake in Coherent by 0.6% during the fourth quarter. Retirement Systems of Alabama now owns 31,855 shares of the scientific and technical instruments company’s stock valued at $4,779,000 after buying an additional 188 shares in the last quarter. Finally, Vantage Consulting Group Inc purchased a new stake in Coherent during the fourth quarter valued at about $32,000. 91.82% of the stock is owned by institutional investors.

Shares of Coherent stock traded up $1.49 during trading on Monday, hitting $263.55. 1,361 shares of the stock were exchanged, compared to its average volume of 590,916. The stock’s fifty day moving average is $251.12 and its 200 day moving average is $172.21. The stock has a market cap of $6.45 billion, a PE ratio of -15.24 and a beta of 1.54. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.93 and a current ratio of 4.52. Coherent has a 12 month low of $103.00 and a 12 month high of $270.00.

Coherent (NASDAQ:COHR) last released its quarterly earnings results on Tuesday, February 9th. The scientific and technical instruments company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.89 by $0.20. The business had revenue of $326.05 million during the quarter, compared to analyst estimates of $318.22 million. Coherent had a negative net margin of 33.70% and a positive return on equity of 3.41%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 earnings per share. Sell-side analysts anticipate that Coherent will post 3.27 EPS for the current fiscal year.

About Coherent

Coherent, Inc provides lasers, laser-based technologies, and laser-based system solutions for a range of scientific, commercial, and industrial research applications. It operates in two segments, OEM Laser Sources and Industrial Lasers & Systems. The company designs, manufactures, markets, and services lasers, laser tools, precision optics, and related accessories; and laser measurement and control products.

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Analyst Recommendations for Coherent (NASDAQ:COHR)

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